{
  "id": 19116717,
  "title": "Strait Of Hormuz Oil Route Gets US Clearance, Iraq Seeks Export Relief After $60 Billion War Losses",
  "url": "https://urgent.news/2026/11/09/strait-of-hormuz-oil-route-gets-us-clearance-iraq-seeks-export-relief",
  "topic": "world",
  "section": "World",
  "published": "2026-11-09T07:26:52.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/strait-of-hormuz-oil-route-gets-us-clearance-iraq-seeks-export-relief-after-60-billion-war-losses"
  },
  "original_language": "en",
  "account": "The United States has granted Iraq permission to export crude oil through a designated route in the Strait of Hormuz, a move that could provide relief to Iraq's energy sector following the Iran war, according to Iraqi Foreign Minister Fuad Hussein. The foreign minister revealed that earlier negotiations between Washington and Tehran enabled the crude shipments through the strategic waterway. Nevertheless, the Strait of Hormuz has posed significant challenges for Iraqi oil exports, leading to financial losses estimated at around $60 billion, as per Hussein. Iraq's oil exports surged to approximately 3.5 million barrels per day in October, up from 2.65 million barrels daily in September. Washington has reportedly instructed Baghdad to close nearly all commercial border crossings with Iran, allowing only two crossings for trade and passenger movement, including one in Iraq's Kurdistan region. This demand is part of the U.S. Treasury Department's strategy to curb Iran's economic activities. The Iranian Foreign Minister, Seyed Abbas Araghchi, cautioned the U.S. to accept Iran's proposal to end the conflict or confront serious military consequences. Araghchi reiterated that Iran remains open to negotiations if Washington commits to resolving hostilities on all fronts. Diplomatic talks have, however, reportedly hit a standstill since the U.S. midterm elections. Araghchi also claimed that diplomatic efforts have temporarily halted due to regional conditions and the suspension of international mediators' visits. The developments underscore the ongoing uncertainty surrounding Middle Eastern oil supplies and regional security.",
  "summary": "Mumbai: Iraq has reached an understanding with the United States to export crude oil through a designated maritime route near Oman in the Strait of Hormuz, offering potential relief to its energy sector following disruptions caused by the Iran war. Iraqi Foreign Minister Fuad Hussein disclosed the development in an interview with Al Jazeera, saying earlier discussions with Washington and Tehran…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}